Jobs & the Economy
Throughout the 117th Congress, House Democrats have partnered with President Biden to enact policies that expand economic opportunity for businesses, workers, and communities across America. Under President Biden and Congressional Democrats, the unemployment rate is at its lowest in more than 50 years with more than 10 million jobs created, helping more of our people get ahead in today’s economy and Make It In America.
Democrats pursue an economic agenda that helps American businesses create good-paying jobs and ensure that workers have the tools not only to get by but to get ahead in our global economy. From raising the minimum wage to providing skills training and apprenticeship opportunities to ensuring equal pay for equal work, from making childcare more affordable to making it easier to save for retirement, Democrats’ economic policies are aimed at helping workers and their families attain real economic security at every stage of life.
Democrats have also delivered historic legislation investing in infrastructure and greater access to high-speed internet, taking the lead in the clean-energy economy, and supporting innovation and entrepreneurship. The generational Bipartisan Infrastructure Law has already begun to expand economic opportunity for Americans in communities across the country and takes action to repair our nation’s roads, bridges, ports, and other infrastructure while creating nearly 1.5 million jobs annually over the next decade. It contains the first major American investment in climate resilience to help communities upgrade their critical infrastructure and mitigate the impact of climate change-driven extreme weather. Likewise, the Inflation Reduction Act also advances America’s clean energy goals, turbocharging clean energy research and transmission while promoting electric vehicle domestic manufacturing to reduce American dependence on gasoline while revitalizing our auto industry.
The CHIPS and Science Act includes bipartisan measures to revitalize the domestic semiconductor industry and spur research. By strengthening domestic supply chains, this law acts directly to accelerate American innovation in the long-term while acting immediately to address inflation and create good paying jobs. House Democrats will continue to champion skills training and education at every level – from early childhood learning through higher education – to prepare our people for success and advancement in a changing economy. In all of these efforts, Democrats will continue to look for ways to make access to opportunities more equitable and to combat the lingering effects of legalized discrimination that continue to make it harder for minorities to access credit for loans, seek investment capital for startups, and build wealth to pass on to the next generation.
With historic job creation under President Biden, House Democrats will continue to advance policies that expand economic opportunity for working families, support small businesses, and create better-paying jobs.
Recently an acquaintance at the next table in a Palo Alto (Calif.) restaurant introduced me to his companions, three young venture capitalists from China. They explained, with visible excitement, that they were touring promising companies in Silicon Valley. I've lived in the Valley a long time, and usually when I see how the region has become such a draw for global investments, I feel a little proud.
Today, the House Ways and Means Committee is meeting to discuss reforming the U.S. tax code. Though in its early stages, I believe tax reform can be one of the most promising areas for bipartisan cooperation in this new Congress. Members of both parties can agree that a tax code that unleashes economic productivity, creates middle-class jobs and reduces the deficit would be a major boost to our economic future.
As Congress returns to work this week, our community is still recovering from the tragedy in Tucson, Ariz., and praying for the health of Rep. Gabrielle Giffords (D-Ariz.) and all of the wounded. A tragedy like this doesn’t make our differences disappear; but this can, I hope, be a time to remember that the grave challenges our nation faces are common to us all and can only be overcome with common effort.
Today’s employment report had some encouraging news for our economic recovery. Our economy added 103,000 jobs, and America’s private-sector, which added 113,000 jobs, grew for the 12th straight month by 113,000. Also encouraging was a sharp drop in the unemployment rate—the largest single-month decline since 1998.
To train its future leaders, General Electric has rising young stars study and visit an array of different organizations, from Google to West Point.
The America COMPETES Act expands support for research and development, helping the United States to remain the world’s innovation leader. It creates jobs for the short-term and lays a foundation for long-term prosperity. And it is an important part of the 'Make It In America' agenda—a series of important bills designed to help America regain its manufacturing strength.
Citing the possibility of "fiscal turmoil," outgoing House Majority Leader Steny Hoyer (D-Md.) on Monday called for bipartisan cooperation in the next Congress to tackle budget deficits and reform the tax code.
Despite sharp divisions, Democrats and Republicans might be able to reach agreements in the 112th Congress on issues such as scientific research and education and even on overhauling tax policy, House Majority Leader Steny H. Hoyer said Monday.
House Majority Leader Steny H. Hoyer (MD) delivered remarks this morning at the National Press Club on the need for American leaders to look beyond two-year election cycles to address the challenges facing our country, including job creation, economic growth, and fiscal responsibility. Below are his remarks as prepared for delivery:
U.S. wholesalers loaded up their shelves in September and a gauge of small-business sentiment ticked upward, both signs that U.S. companies are gaining confidence in the economic recovery.